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Cable Update (GBPUSD)

  • #281,321
  • Jun 14, 2011 4:20am Jun 14, 2011 4:20am
I do find that in trading it is no good looking/expecting absolutes, these are rare events, all we have is what the greater probability may or may not be - howsoever we determine that...none of us have any powers of prediction - just a trading edge - ie a set of circumstances that, based on historical precedent shows a greater probability of price moving one way over another, or if not a greater probability, a positive expectancy being available overall ie more pips availble when it does net of the time it does not.

Remember the only certainty is uncertainty and the only constant is change.

G/L
ex member
  • #281,322
  • Jun 14, 2011 4:28am Jun 14, 2011 4:28am
Quoting bbmac
I do find that in trading it is no good looking/expecting absolutes, these are rare events, all we have is what the greater probability may or may not be - howsoever we determine that...none of us have any powers of prediction - just a trading edge - ie a set of circumstances that, based on historical precedent shows a greater probability of price moving one way over another, or if not a greater probability, a positive expectancy being available overall ie more pips availble when it does net of the time it does not.

Remember the only certainty...
nice saying...
Keep the Lights on then you can catch the rise from the dark.
  • #281,323
  • Jun 14, 2011 4:28am Jun 14, 2011 4:28am
my point about current 'discussion' here is:
dont follow those spikes on price. you will be killed.
let market setup for a while.
in 1 single day happens a lot of good signs of good positions.

be patient and understand what market is sayin on charts!
90% of traders use TA, indicators and prediction
  • #281,324
  • Jun 14, 2011 4:30am Jun 14, 2011 4:30am
All looked immediately bearish after the data react on 1st test of area of current daily hi....nothing more so than the 3min t/f great PB candle (pinbar) with the bearish div, 5min/15min went on to print similar.

Finishing here for the session.



G/L
Attached Image (click to enlarge)
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ex member
  • #281,325
  • Jun 14, 2011 4:34am Jun 14, 2011 4:34am
Final look at current near-term 1hr
Attached Image
ex member
  • #281,326
  • Jun 14, 2011 4:35am Jun 14, 2011 4:35am
good luck for sellers.
  • #281,327
  • Jun 14, 2011 4:38am Jun 14, 2011 4:38am
Quoting wormboy
The biggest trap was laid last Friday. HTF charts on cable suggest more upside atm

Good luck.
I agree with you untill it breaks the 6160 its bullish tone in weekly trend. we are talking abt the little downside to retest the friday low friend.
  • #281,328
  • Jun 14, 2011 4:39am Jun 14, 2011 4:39am
Quoting bbmac
All looked immediately bearish after the data react on 1st test of area of current daily hi....nothing more so than the 3min t/f great PB candle (pinbar) with the bearish div, 5min/15min went on to print similar.

Finishing here for the session.



G/L
thank you mate!
have a good sunny day
90% of traders use TA, indicators and prediction
  • #281,329
  • Jun 14, 2011 4:40am Jun 14, 2011 4:40am
survival of the fittest
  • #281,330
  • Jun 14, 2011 4:47am Jun 14, 2011 4:47am
Quoting bchbch
I agree with you untill it breaks the 6160 its bullish tone in weekly trend. we are talking abt the little downside to retest the friday low friend.
A little downside? Friday's low is about 200 pips away, immediate weekly resistance is only 60 pips away @6450. I'd be looking at the reaction from that level first before contemplating on selling.

But that's just me. Good luck anyway
Thank You
  • #281,331
  • Jun 14, 2011 4:52am Jun 14, 2011 4:52am
finally, now we are moving - always does it near 1hr close
Lets Soar The Sky
  • #281,332
  • Jun 14, 2011 4:54am Jun 14, 2011 4:54am
Quoting wormboy
A little downside? Friday's low is about 200 pips away, immediate weekly resistance is only 60 pips away @6450. I'd be looking at the reaction from that level first before contemplating on selling.

But that's just me. Good luck anyway
Mate you miss my early post today http://www.forexfactory.com/showthre...54#post4688554

the price not touch it and retrace from that lay this short situation.
  • #281,333
  • Jun 14, 2011 4:58am Jun 14, 2011 4:58am
no follow through
rebounding~~darn its not a good day
Lets Soar The Sky
  • #281,334
  • Jun 14, 2011 4:59am Jun 14, 2011 4:59am
Quoting bchbch
Mate you miss my early post today http://www.forexfactory.com/showthre...54#post4688554

the price not touch it and retrace from that lay this short situation.
Yep, I certainly missed that post. Seems we're both looking at the same upside level. Good luck to you
Thank You
  • #281,335
  • Jun 14, 2011 5:04am Jun 14, 2011 5:04am
Quoting wormboy
Yep, I certainly missed that post. Seems we're both looking at the same upside level. Good luck to you
I am appreciate you warmboy even i have a few post you took ur time to read and reply it. i really like to be a part of this forum. best of luck you too.
  • #281,336
  • Jun 14, 2011 5:06am Jun 14, 2011 5:06am
SSD 14,3,3 crossing on 4hr, waiting for RSI to confirm. I am bearish on this pair but got in too early
Lets Soar The Sky
  • #281,337
  • Jun 14, 2011 5:41am Jun 14, 2011 5:41am
at my eyes..
this is a good consolidation of the 6380 support.
90% of traders use TA, indicators and prediction
  • #281,338
  • Jun 14, 2011 5:42am Jun 14, 2011 5:42am
Quoting soartosky
SSD 14,3,3 crossing on 4hr, waiting for RSI to confirm. I am bearish on this pair but got in too early
Bearish on short time rallies or ur trading sentiment for the day. anyway Safe Trades am long after price failed to break the 6376
Keep the Lights on then you can catch the rise from the dark.
  • #281,339
  • Edited 5:47am Jun 14, 2011 5:45am | Edited 5:47am
...shown in m5...
Attached Image (click to enlarge)
Click to Enlarge Name: gusdm15.jpg Size: 101 KB
90% of traders use TA, indicators and prediction
  • #281,340
  • Jun 14, 2011 5:54am Jun 14, 2011 5:54am
Quoting _BBKing_
...shown in m5...
wow so we are trending same today.....making the pips on that price is good business. Indeed you are having Safe Trades
Keep the Lights on then you can catch the rise from the dark.
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